Offshore centres accept anti laundering plans

Following the threat of reputation damaging blacklists, 36 offshore centres proceeded cautiously towards accepting a set of minimum anti-money laundering measures, in an attempt to stem the flow of dirty money through global financial markets. The regulators from small nations and territories ranging from Africa to the Caribbean, agreed after two days of talks to adhere to the new set of standards set out at the United Nations Offshore Forum, which it is hoped will deny criminal access to financial markets. In doing so they also pledged to seek political commitments to the pact from their own governments, by no later than September 30.